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Nairaland Forum / Nairaland / General / Business / CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" (41283 Views)
CBN Introduces BVN Lite For Minimal Financial Transactions / CBN Introduces New FX Rate For Bdcs / CBN Introduces New Charges On Bank Deposits And Withdrawals (2) (3) (4)
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Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by alt3r3g0: 1:40pm On Mar 27, 2017 |
Bobo419: I use to share the same view until i started seeing 20 naira difference between buy and sell whereas before it was less than 5 naira. BDCs have started price fixing. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Akaujaa(m): 1:52pm On Mar 27, 2017 |
Why CBN just dey dish out diz kind "bad news" everyday na...he be like say una wan make some people get heart attack oo. Wailers how market na? |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Nobody: 1:53pm On Mar 27, 2017 |
Livebygrace: I think it will come down. People have to sell the stock they bought at 500 per dollar. When they buy new goods at the new rate, the prices will be driven down. Even if they wanted to rip people off, competition from other sellers wont let them 1 Like |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by buffalowings: 1:56pm On Mar 27, 2017 |
you don't have to go the 360 naira now it's time to go 180 |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Jammiiee(m): 2:12pm On Mar 27, 2017 |
Palmoil is imported ? Hope u know Wt u r saying [b] Palm Oyeeell [/b]ooooo deathwing: |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by ManirBK: 2:22pm On Mar 27, 2017 |
Bobo419:pls explain PARALLEL MARKET layman dey plenty for this threat o!! |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Deeldorado: 2:33pm On Mar 27, 2017 |
Livebygrace:There's a time lag between when a policy is initiated and when the impact is transmitted and felt. Besides, much of the commodities in stock were purchased during the period of the high naira dollar rate. Sellers would have to sell off these goods first at prices which reflect their original cost before they can restock and sell at new prices that reflect the current exchange rate. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by mrsfavour(f): 3:01pm On Mar 27, 2017 |
ajepako:humm, u said 900 for garri, I bought 1k yesterday in Owerri. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by ocografixdon: 3:52pm On Mar 27, 2017 |
okay na market women and business men dollar is now 360 pls take note and make the price's of good to b fair and cheap for all Nigerian because d federal government will soon be sending monitoring to check on you guys so be warn one love to naija |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Fourwinds: 3:53pm On Mar 27, 2017 |
Livebygrace:I said it dat Nigerians are wicked....we can now see it in reality 1 Like |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by SupaTee: 3:53pm On Mar 27, 2017 |
Livebygrace: U should also know that some people are yet to sell-off their old stock which they bought at exorbitant prices when the dollar rate was high. I think we should be patient a little coz these people are business people and need to make their profit at the price they bought. I also agree with u that some people will capitalize on the opportunity and still sell at outrageous prices even though they have started buying their goods at cheaper rates. 1 Like |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Fourwinds: 3:57pm On Mar 27, 2017 |
Deeldorado:u are a big liar...u must be one of them..... we all know this...before increase in petrol., what happen.? hoarding....them dey sell d old fuel for new price. I will keep saying it...Nigerians are wicked simple |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by mathew2oa(m): 4:01pm On Mar 27, 2017 |
Dripy:U will ave to wait for at least 2 mnths if by then the new value of naira is still the same because u won't expect a manufacturer who bought raw material at 500/1$ to sell at lost because the dollar is falling 1 Like |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Opinedecandid(m): 4:23pm On Mar 27, 2017 |
Firefire: You mockery na Grade 1. 1 Like |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Firefire(m): 4:31pm On Mar 27, 2017 |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 4:32pm On Mar 27, 2017 |
gonkin:Ahahaha |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by mindtricks: 4:34pm On Mar 27, 2017 |
Firefire: Dream on dreamer. It aint over yet bruv - Not until it is over! Seeing is believing. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by pricipal2003(m): 4:52pm On Mar 27, 2017 |
So what will happen if the dollar futher slides down below the 360 naira being offered now! |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 4:59pm On Mar 27, 2017 |
Fourwinds:Why call him a.liar ? If you buy cement from Dangote at 3000 and dollars come down are you going to reduce your price to 2500 ? ?or dale at current price amd sell off your old stock by new stock and sell at 2500 ? We should try and understand issues before jumping into conclusion . |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 4:59pm On Mar 27, 2017 |
mathew2oa:Nahh 1 year bro |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Fourwinds: 5:05pm On Mar 27, 2017 |
erico2k2:I'm telling u before d increase a lot of people had d old stocks but dey were happy to hear d rise in dollar to naira and sold it immediately at new price...what do u say to dat.? we know fuel has always been an example before now.....I repeat Nigerians are wicked 1 Like |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Tumm(m): 5:10pm On Mar 27, 2017 |
Livebygrace: You should not expect a sudden slash in prices. Those business men and women bought their goods when the exchange rate was close to 500N/Dollar. If they bring prices down immediately, can you imagine the loss? |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by murmee: 5:28pm On Mar 27, 2017 |
Adesiji77:True. I was at a branch of ECOBANK today and I saw when a staff brought down the exchange rate notice board. She adjusted the figures and hung the board back. The exchange rate for dollar is now N360 to a dollar! 2 Likes 1 Share |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 5:28pm On Mar 27, 2017 |
Fourwinds:You are missing the point.I am also an Importer so I can tell you how it goes.check thus. I have a student table I sell . As old stock.is cost N10k 4 dollar went 500 . Now I ha e to I crease it to N15k cos of I crease in forex even though it's Old stock Here is why If I don't sell at current price I wo t be able to replace same item with new stock . .of I sell at old price 10k who is going to make up the difference to replace same stock with new product ? Least we 4get the 5K difference is not profit but capital.it's same 2k I will make I'm still making but it will take me longer to sell as economy is tough . |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 5:30pm On Mar 27, 2017 |
murmee:Bro what's the point ? Plz go back there tomorrow and ask to buy 100 dollars come back and tell is what happened after then. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Koolking(m): 5:33pm On Mar 27, 2017 |
Livebygrace: Rogue is just apt. An average Nigerian is also despicable. There are locally made items that have nothing to do with forex. An average Nigerian enjoys taking undue advantage and savouring the pains of fellow citizens. A day of reckoning will catch up with them soon. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Caseless: 5:38pm On Mar 27, 2017 |
Livebygrace:as a people, we are very wicked to each other. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 5:41pm On Mar 27, 2017 |
Koolking:You are being ignorant.I do t mean to be rude but you are.Name these so called local goods and let us see how forex don't affect them in one way or the other . |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Caseless: 5:41pm On Mar 27, 2017 |
Koolking:when an Ibo woman told me dollar had increased thereby causing her to increase the price of ugu(vegetables) grown in her backyard was the day I gave up on us. |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 5:47pm On Mar 27, 2017 |
Caseless:Ahaha and U x pet mama put not to.increase a plate of ofe Oweri when a mama kalu increase the price of Ugu which she buys and use in preparing that soup |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by Fourwinds: 5:56pm On Mar 27, 2017 |
erico2k2:u try...dat is d wickedness I'm talking about....now who pays d student or worker more to purchase d difference since u are now selling old stock for new price... consumers suffers abi.? |
Re: CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" by erico2k2(m): 6:06pm On Mar 27, 2017 |
Fourwinds:Nobody pays .in an ideal world everyone increases thier goods and services . If you did Economics in school you would ja e heard of a word called inflation . ?? If the retailer do not increase his price the next option is to close down . Don't forget demand and supply . Less supply means higher price . |
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